King Charles and his son Prince William are increasing their huge fortunes with rents from British institutions including schools, fire stations and even hospitals, UK media has reported.
The Sunday Times newspaper and broadcaster Channel 4 joined forces in a five-month-long investigation which uncovered more than 5,000 land registry documents connected with the two men’s huge property portfolios, the King’s Duchy of Lancaster fiefdom and Prince William’s Duchy of Cornwall.
Saturday evening Channel 4 aired the documentary The King, the Prince and their Secret Millions, while The Sunday Times newspaper published supporting documentation overnight.
The claims made in the show and in the press include:
- Both duchies are making millions of pounds each year in rents from government departments, councils, businesses, mining companies and the general public via a series of commercial rents and feudal levies on land largely seized by medieval monarchs
- The royals charge for the right to cross rivers; offload cargo onto the shore; run cables under their beaches; operate schools and charities; and even dig graves. They earn revenue from toll bridges, ferries, sewage pipes, churches, village halls, pubs, distilleries, gas pipelines, boat moorings, opencast and underground mines, car parks, rental homes and wind turbines
- They operate as commercial landlords while having a special agreement with the Treasury exempting them from paying tax on their corporate profits
- The documentary also cited several examples where carbon emissions on the land owned by the Duchy of Cornwall clashed with the values espoused by Prince William in his Earthshot campaign, which focuses on preserving the planet for future generations
The Sunday Times quoted a Duchy of Lancaster spokesman saying: “The Duchy of Lancaster operates as a commercial company, managing a broad range of land and property assets across England and Wales. It complies with all relevant UK legislation and regulatory standards applicable to its range of business activities.”
And a Duchy of Cornwall spokesman said:
“The Duchy of Cornwall is a private estate with a commercial imperative which we achieve alongside our commitment to restoring the natural environment and generating positive social impact for our communities.”